Joe Cole signs for Liverpool on free transfer from Chelsea

Joe Cole has signed for Liverpool on a free transfer for the next four years.

The former Chelsea midfielder was expected to remain in the capital after two north London clubs expressed an interest in acquiring his services next season.

However, the offer of a four-year contract, believed to be worth around £90,000 a week, has swayed the 28-year-old to move to the north west where he will join England team-mate Steven Gerrard and Spanish World Cup-winning striker Fernando Torres.

The signing of Cole represents the first real coup of the Roy Hodgson era at Anfield, after the former Fulham boss took over from Rafa Benitez last month.

Arsenal had been the front-runners for Cole's signature after it emerged he would be leaving the Blues in the summer, although they faced stiff competition from local rivals Spurs.

However, it is thought talks with new Reds boss Hodgson, as well as the security of a longer four-year deal, swayed Cole into deciding on a move to Merseyside.

A statement from the club said: "Liverpool FC are delighted to confirm the signing of Joe Cole on a four-year deal.

"The England midfielder has agreed personal terms with the Reds and will undergo a medical in the next 48 hours.
"Cole becomes the club's second signing of the summer after Milan Jovanovic.

"The 28-year-old arrives from Chelsea, where he won three league titles and two FA Cups during a seven-year spell.
"He is a product of the West Ham youth system and has represented his country 56 times, scoring 10 goals in the process."

Cole was released by Chelsea after a disagreement over his wages and the length of any new deal.

The transfer sees him move in the opposite direction to former Reds midfielder Yossi Benayoun, who has joined Chelsea for a fee believed to be in the region of £5.5million.